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Read more at The Business Times."/><meta data-rh="true" property="og:image" content="https://cassette.sphdigital.com.sg/image/businesstimes/1a14522fb8447d1aa7a418c3f394e1a17658e19a6ce7d9af6fb926569d2f21a5"/><meta data-rh="true" property="og:image:width" content="1200"/><meta data-rh="true" property="og:image:height" content="630"/><meta data-rh="true" property="og:image:alt" content="The Submariner, produced for more than 70 years, was designed for deep-sea divers, though it’s now more often seen on wrists of Wall Street or City of London traders."/><meta data-rh="true" property="fb:admins" content="100008016031098"/><meta data-rh="true" property="fb:pages" content="288031731262011"/><meta data-rh="true" property="fb:app_id" content="328386607332790"/><meta data-rh="true" property="twitter:card" content="summary_large_image"/><meta data-rh="true" property="twitter:site" content="@BusinessTimes"/><meta data-rh="true" property="twitter:title" content="All the Rolex Submariner watches 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text-gray-850 md:px-6 md:text-10xl">All the Rolex Submariner watches ever made are now near a total US$50 billion market value</h1><div class="mb-6 md:px-6 min-h-[50px] text-gray-850 mt-4 space-y-4 md:flex md:flex-wrap md:space-y-0" data-testid="article-authors-list-component"><div class="flex items-center"><img class="flex-shrink-0 rounded-full" src="/assets-web2/default-BSkyYMCQ.png" width="50" height="50"/><div class="flex flex-col flex-wrap pl-2"><div class="font-public-sans text-xs font-normal leading-6 text-gray-650"><span data-testid="article-published-time">Published <!-- -->Wed, Nov 13, 2024 · 01:32 PM</span></div></div></div></div><div class="mb-3 flex items-center justify-between border-b border-t border-gray-250 py-3 md:mx-6 md:mb-6 md:py-4"><div data-testid="article-keyword-filter-first" class="w-full"><div data-testid="article-top-keyword" class="p-3 inline-block w-full bg-transparent !p-0 relative"><div class="group relative"><div class="flex items-center"><a class="line-clamp-1 place-self-center break-all text-center font-poppins text-base font-semibold capitalize !text-gray-850 border-r-0 px-0 md:px-3" href="/keywords/watches">Watches</a><button data-size="md" type="button" aria-label="Follow tag" class="ml-auto flex aspect-square cursor-pointer items-center justify-center whitespace-nowrap rounded-full !border !border-solid !border-gray-175 px-3 text-center !font-poppins text-xs font-semibold tracking-[0.02em] text-gray-850 !outline-none transition-all duration-150 focus-within:outline-none hover:!border-gray-850 focus:outline-none data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] md:aspect-auto md:px-6" data-rac="" id="react-aria-:R2aldcscu5:"><div class="md:min-w-16"><p class="m-0 hidden md:block">Follow</p><div class="flex items-center md:hidden"><svg aria-hidden="true" focusable="false" data-prefix="fas" data-icon="plus" class="svg-inline--fa fa-plus fa-sm " role="img" xmlns="http://www.w3.org/2000/svg" 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outline-0 focus-within:outline-0 focus:outline-0 md:-ml-[2.75rem] min-[1040px]:-left-4 left-0 bg-white aspect-square w-auto" data-size="sm"><div class="flex h-full w-full items-center justify-center"><img src="data:image/svg+xml,%3csvg%20xmlns=&#x27;http://www.w3.org/2000/svg&#x27;%20viewBox=&#x27;0%200%2016%2016&#x27;%20fill=&#x27;%232b2b2b&#x27;%3e%3cpath%20d=&#x27;M11.354%201.646a.5.5%200%200%201%200%20.708L5.707%208l5.647%205.646a.5.5%200%200%201-.708.708l-6-6a.5.5%200%200%201%200-.708l6-6a.5.5%200%200%201%20.708%200z&#x27;/%3e%3c/svg%3e" width="18" height="18"/></div></button><button class="splide__arrow splide__arrow--next flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] !outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 md:-mr-[2.75rem] min-[1040px]:-right-4 right-0 bg-white aspect-square w-auto" data-size="sm"><div class="flex h-full w-full items-center justify-center"><img src="data:image/svg+xml,%3csvg%20xmlns=&#x27;http://www.w3.org/2000/svg&#x27;%20viewBox=&#x27;0%200%2016%2016&#x27;%20fill=&#x27;%232b2b2b&#x27;%3e%3cpath%20d=&#x27;M4.646%201.646a.5.5%200%200%201%20.708%200l6%206a.5.5%200%200%201%200%20.708l-6%206a.5.5%200%200%201-.708-.708L10.293%208%204.646%202.354a.5.5%200%200%201%200-.708z&#x27;/%3e%3c/svg%3e" width="18" height="18"/></div></button></div><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div class="relative h-full"><div class="mx-auto aspect-3x2 w-full max-w-[1400px] bg-gray-250"></div></div></li></ul></div></div><div class="splide"><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div><div class="py-2 px-3 font-poppins text-xs text-gray-850 md:px-8">The Submariner, produced for more than 70 years, was designed for deep-sea divers, though it’s now more often seen on the wrists of Wall Street or City of London traders. PHOTO: BLOOMBERG</div></div></li></ul></div></div></div><div class="body-content tracking-tighter mb-6 mt-4 font-lucida text-lg font-medium leading-normal tracking-[-0.05625rem] text-gray-850 antialiased md:px-8 md:text-xl" data-testid="article-paragraphs-component"><div class="relative mb-4 md:mb-6"><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">THE total market value of all Rolex Submariner watches ever made is almost US$50 billion, based on analysis of the first-ever release of production data by the Swiss watchmaker.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Nearly four million Submariner and Sea Dweller diving watches were produced between 1953 and 2020, according to a company-authorised book entitled <i>Submariner: The Watch that Unlocked the Deep</i>.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Subdial, a UK-based second-hand trading platform, estimates that at current prices those watches are worth about US$46 billion. That figure rises closer to US$50 billion if Submariners made after 2020 are included. </p><div class="my-8 md:my-12 w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-imu1" class="adunit-component"></div></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">The figures underscore the value retention of some Rolex watches. Scores of models trade above their retail prices on the secondary market even though Rolex makes more than one million timepieces per year, according to analyst estimates. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">The Submariner, produced for more than 70 years, was designed for deep-sea divers, though it’s now more often seen on the wrists of Wall Street or City of London traders. The current version traces its appearance back to the original model created in 1953. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">“When I close my eyes and think of Rolex, the watch that appears in my mind’s eye is the Submariner,” said Eric Wind, a Florida-based vintage watch dealer who previously worked for auction house Christie’s. </p><div class="py-10 md:-mx-8"><div class="mb-6 border border-gray-175 p-6 md:p-8"><div class="" data-component="specific-newsletter"><h5 class="mb-6 border-b border-gray-850 py-2 !font-poppins text-base font-semibold uppercase tracking-5% md:text-lg">A NEWSLETTER FOR YOU</h5><div class="flex py-3 md:px-10 md:py-6"><img alt="Newsletter Img" class="hidden h-auto max-w-full self-start min-[321px]:block" width="75" height="75" src="/assets-web2/newsletter_lifestyle-TlJQ_ypm.png"/><div class="min-[321px]:pl-4 md:pl-6"><p class="mb-1 font-poppins text-4xs font-light uppercase tracking-[1px] text-gray-850">Friday, 2 pm</p><h5 role="name" class="!font-poppins text-xl font-medium text-gray-850">Lifestyle</h5><p role="description" class="mb-3 font-public-sans text-base font-light tracking-normal text-gray-850 md:text-lg ">Our picks of the latest dining, travel and leisure options to treat yourself.</p><div class="relative hidden w-full md:block md:w-4/5 lg:w-7/10 xl:w-6/10"><div class="relative"><button data-size="md" type="button" class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] w-full min-w-[155px] bg-transparent px-0 py-0 hover:bg-transparent md:max-w-[155px]" data-rac="" id="react-aria-:Rb55moodcscu5:">Sign Up</button></div></div></div></div><div class="relative block w-full md:hidden"><div class="relative"><button data-size="md" type="button" class="!outline-none focus-within:outline-none focus:outline-none outline-0 focus-within:outline-0 focus:outline-0 flex cursor-pointer items-center justify-center whitespace-nowrap rounded-full border border-solid border-gray-175 text-center !font-poppins text-gray-850 transition-all duration-150 hover:border-gray-850 data-[size=lg]:h-[68px] data-[size=md]:h-[42px] data-[size=sm]:h-[36px] font-semibold text-xs tracking-[0.02em] w-full min-w-[155px] bg-transparent px-0 py-0 hover:bg-transparent md:max-w-[155px]" data-rac="" id="react-aria-:Rblmoodcscu5:">Sign Up</button></div></div></div></div></div><div class="w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="relative mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-midarticlespecial" class="adunit-component my-8 md:my-12"></div></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Rarer Submariners can retain value better than higher-production models. The total value of a version collectors dubbed <i>The Hulk</i>, with a green dial and bezel, briefly overtook the comparable standard model during the market frenzy for pre-owned luxury watches in 2022, even though Rolex made only half as many from 2010 to 2020, the Subdial data show.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">To be sure, the market value estimate for all the Rolex dive watches ever produced presumes that the nearly four million timepieces are still in existence. Many certainly have been lost or discarded, or are no longer working or repairable. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Still, “the mind boggles to think what US$46 billion of Submariners means”, Subdial co-founder Christy Davis said, adding that Rolex has created a “cash cow model” without detracting from the allure of the watch. </p><div class="mb-6 mt-8 border border-gray-175 p-6 md:-mx-8 md:mt-0 md:p-8" data-testid="article-read-more"><div><div class="mb-6 border-b border-gray-850 pb-2 !font-poppins text-base font-semibold leading-normal tracking-5% text-gray-850 md:text-lg">SEE ALSO</div><div data-testid="section-article-read-more"><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5296369" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center 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three additional top-10 finishes this season, including her second major title at the Chevron Championship." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5296369"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Nelly Korda clinches first Rolex Player of the Year award" href="/lifestyle/nelly-korda-clinches-first-rolex-player-year-award" target="_blank">Nelly Korda clinches first Rolex Player of the Year award</a></h3></div></div></div><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5203830" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/lifestyle/the-business-of-time-2024/birth-and-evolution-modern-classic" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/4d043254fb8be9a9fb5f71ca112411eed72ac15fe1353a0427bce2e8f2ac8842?w=180&amp;h=120&amp;dpr=1&amp;f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/4d043254fb8be9a9fb5f71ca112411eed72ac15fe1353a0427bce2e8f2ac8842?w=140&amp;h=100&amp;dpr=1&amp;f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/4d043254fb8be9a9fb5f71ca112411eed72ac15fe1353a0427bce2e8f2ac8842?w=300&amp;h=200&amp;dpr=1&amp;f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/4d043254fb8be9a9fb5f71ca112411eed72ac15fe1353a0427bce2e8f2ac8842?q=20&amp;w=3&amp;h=2&amp;f=webp" loading="lazy" alt="GMT-Master, stainless steel, red and blue bezel insert, 1959, ref. 1675 (above) and GMT-Master II, Oystersteel, red and blue bezel insert, 2018, ref. 126710 BLRO (below)" class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5203830"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="The birth and evolution of a modern classic" href="/lifestyle/the-business-of-time-2024/birth-and-evolution-modern-classic" target="_blank">The birth and evolution of a modern classic</a></h3></div></div></div><div class="mb-6" data-testid="article-read-more-items"><div data-testid="basic-card" data-cueid="5165160" class="relative flex flex-wrap items-start gap-4"><div class="relative flex order-1 flex-shrink-0 w-[70px] lg:w-[90px]"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/international/global/swiss-watch-exports-plunge-chinese-demand-dries" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/1429805da9dbf8908764ac12d271242e893ee2fc01557c166a0f268e14304fcf?w=180&amp;h=120&amp;dpr=1&amp;f=webp 1x"/><source media="(min-width: 768px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/1429805da9dbf8908764ac12d271242e893ee2fc01557c166a0f268e14304fcf?w=140&amp;h=100&amp;dpr=1&amp;f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/1429805da9dbf8908764ac12d271242e893ee2fc01557c166a0f268e14304fcf?w=300&amp;h=200&amp;dpr=1&amp;f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/1429805da9dbf8908764ac12d271242e893ee2fc01557c166a0f268e14304fcf?q=20&amp;w=3&amp;h=2&amp;f=webp" loading="lazy" alt="Exports of Swiss timepieces and watch movements declined by 12.4 per cent overall to about 1.9 billion Swiss francs (S$2.9 billion) in value, with China’s imports down 50 per cent." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-full-120px lg:w-2/3 order-2 text-white"><h3 class="_title_d4ajx_12 !text-base my-0 leading-[1.3rem] tracking-normal !font-lct" data-testid="title_link_5165160"><a class="inherit word-break hover:underline !text-gray-850" rel="noopener" title="Swiss watch exports plunge as Chinese demand dries up" href="/international/global/swiss-watch-exports-plunge-chinese-demand-dries" target="_blank">Swiss watch exports plunge as Chinese demand dries up</a></h3></div></div></div></div></div></div><div class="my-8 md:my-12 w-screen bg-gray-125 transition-all duration-300 border-gray-175 min-h-0 border-y-0 bg-none py-0" style="max-width:0px;margin-left:calc(-1*(0px - 100%) / 2 );height:0"><div data-component="component-container" class="container px-3 sticky top-[120px]"><div class="mx-auto w-full md:w-10/12 md:px-8 lg:w-8/12"><div class="text-center text-center" data-testid="advertisement-element"><div id="dfp-ad-imu2" class="adunit-component"></div></div></div></div></div><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Rolex overall dominates a secondary market for used luxury timepieces that’s estimated to grow to US$35 billion annually by 2030, according to Deloitte. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Of the watches in the Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded models by value, 45 are Rolex. The index fell 0.6 per cent in October as Rolex and Audemars Piguet declines offset gains by Patek Philippe. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">By brand, Richemont’s Cartier was the biggest decliner, falling 1.8 per cent during the month. Swatch Group’s Omega showed the strongest gains, rising 0.6 per cent. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Rolex has a vested interest in the second-hand market, as it recently started selling used models through its certified pre-owned programme. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Still, just 1 per cent of all its watches made are for sale at any given time, according to Subdial and other major sellers. Even as models such as the Daytona chronograph have captured more attention with recent price increases, for collectors and dealers such as Wind, the Submariner stands out. </p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">“It’s the watch so many people choose to buy with their first bonus check,” Wind said. 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<div id="mysph" lan="en" svc="bts"></div> <script type="text/javascript"> var _mySPHObj; </script> </body> </html>

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